Obligations of promoter regarding veracity of the advertisement or prospectus is defined under Section 12 of the Real Estate (Regulation and Development Act, 2016).
Where
any person makes an advance or a deposit on the basis of the information
contained in the notice advertisement or prospectus, or on the basis of any
model apartment, plot or building, as the case may be, and sustains any loss or
damage by reason of any incorrect, false statement included therein, he shall
be compensated by the promoter in the manner as provided under this Act:
Provided
that if the person affected by such incorrect, false statement contained in the
notice, advertisement or prospectus, or the model apartment, plot or building,
as the case may be, intends to withdraw from the proposed project, he shall be
returned his entire investment along with interest at such rate as may be
prescribed and the compensation in the manner provided under this Act.
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